56. Foresight's acquisition of Downing's venture businesses with Matt Smith and Jack Eadie of Foresight

Foresight Group recently announced that it was buying most of Downing's venture business, including two VCTS and EIS funds. To talk about, this episode's guests are Matt Smith, a long-standing Partner at Foresight, and Jack Eadie, who moved across with the Downing business. After introducing the deal itself, we discuss some of the motivations for the transaction and where Foresight see complementarity with their existing business. We also talk about how the integration will work, what effect there will be on day-to-day management and how these will affect investors. Finally, we touch on current market conditions and outlook and how that may affect things going forward. Foresight website: https://www.foresightgroup.eu/ (https://www.foresightgroup.eu/) Suggested books: https://www.amazon.co.uk/Good-Great-Companies-published-HarperBusiness/dp/B00E327SVA/ref=sr_1_1?crid=L140HK208NUB&keywords=good+to+great+jim+collins&qid=1659186324&sprefix=good+to+great%2Caps%2C255&sr=8-1 (Good to Great) by Jim Collins https://www.amazon.co.uk/House-Wirecard-Dan-McCrum/dp/178763504X/ref=sr_1_1?crid=L79CV9TBNGQJ&keywords=money+men&qid=1659186539&s=books&sprefix=money+me%2Cstripbooks%2C136&sr=1-1 (Money Men: A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth) by Dan McCrum https://www.amazon.co.uk/Harry-Potter-Philosophers-Stone/dp/1408855658/ref=sr_1_4?keywords=harry+potter+books&qid=1659186376&sprefix=harry+po%2Caps%2C116&sr=8-4 (Harry Potter and the Philosophers Stone) by J.K. Rowling Bios Matt Smith Matt is a Partner based in Foresight Group’s London office. Prior to Foresight, Matt worked at Rothschild. Matt holds a post graduate Diploma with distinction in Physiology and an MA in Biological Sciences, both from Oxford University. Jack Eadie Jack is a Managing Director based in Foresight Group’s London office. Prior to Foresight, Jack worked at Downing Ventures as a Partner, he also previously worked at venture funds Next 47 and Eight Roads Ventures. J